In a way, yes. 2001's Exit Wounds is the last good theatrical wide release Steven Seagal made. It doesn't have much competition, of course; only 2002's Half Past Dead got any kind of theatrical run after it, not counting Machete, which really isn't a "Steven Seagal movie" even if he does appear as the villain. There are a couple of DTV films that may give Exit Wounds a run for its money (Pistol Whipped being the best of the bunch), but even they lack the slickness and capable Hollywood professionalism afforded a Joel Silver production. This might be the last time a Steven Seagal movie felt like a real movie.
Seagal plays Orin Boyd, a Detroit cop who gets transferred to a tough part of town after he disobeys direct orders during an attempt on the visiting Vice President's life. He's sent to anger management classes (which include Tom Arnold in full-on manic mode as a member) and assigned a new partner, played by Isaiah Washington. They break up a drug buy between an undercover cop and the city's biggest dealer, Latrell Walker (rapper DMX). Both the cops and Walker are more than they first appear to be, however, leading Boyd down a rabbit hole of tech millionaires, police corruption, and daytime talk shows.
Because of this, Exit Wounds is a more effective buddy movie than future #HeavyAction entry The Gilmmer Man, Seagal's only previous attempt at sharing the spotlight in an action movie. It's not that The Glimmer Man is bad -- I dig it -- but you can feel Seagal's unwillingness to play nice with others for the entirety of its running time. That's a movie designed to build the star's legend, rife with mysterious, mystical bullshit. Exit Wounds brings Seagal back to basics for the first time in a long time, shedding all his mythology and recreating him in the image of the classic Action Movie Cop. Even more incredibly, Seagal allows for some humor at his own expense, whether it's being too big for a school desk or getting busted down to traffic cop while "I Feel Good" plays. Listen, I'm not saying any of it is actually funny, but the very fact that Seagal is willing to be the butt of a joke -- something he wouldn't even allow when he hosted Saturday Night Live in the early '90s -- is proof that he's taking some risks here.